Economic Systems Challenge

Froggy Jumps

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Test your knowledge of traditional, command, free market, and mixed economies.

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Montex

Canada

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Froggy Jumps Economic Systems ChallengeOnline version Test your knowledge of traditional, command, free market, and mixed economies. by Montex 1 Which economy relies on customs and traditions to decide production? a Command economy b Traditional economy c Free market economy 2 In a command economy, who decides what to produce? a The consumers b The government c Private firms 3 Which system bases decisions on price signals and profits? a Traditional economy b Command economy c Free market economy 4 Public goods often fail to be produced by the market because they are: a Non-excludable and non-diminishable b Easy to price c Profit-driven 5 Merit goods like education are typically: a Ignored in all economies b Underprovided by individuals alone c Overproduced by markets 6 In a mixed economy, resource allocation is done by: a Both market forces and the government b Only the market c Only the central planning authority 7 Which economy minimizes government involvement and emphasizes private ownership? a Command economy b Traditional economy c Free market economy 8 In a traditional economy, trade is often based on: a Instant digital payments b Barter and customs c Credit markets 9 A key feature of the mixed economy is government involvement to: a Increase taxes only b Eliminate private firms entirely c Address market failures

Froggy Jumps

Economic Systems ChallengeOnline version

Test your knowledge of traditional, command, free market, and mixed economies.

by Montex

Which economy relies on customs and traditions to decide production?

Command economy

Traditional economy

Free market economy

In a command economy, who decides what to produce?

The consumers

The government

Private firms

Which system bases decisions on price signals and profits?

Traditional economy

Command economy

Free market economy

Public goods often fail to be produced by the market because they are:

Non-excludable and non-diminishable

Easy to price

Profit-driven

Merit goods like education are typically:

Ignored in all economies

Underprovided by individuals alone

Overproduced by markets

In a mixed economy, resource allocation is done by:

Both market forces and the government

Only the market

Only the central planning authority

Which economy minimizes government involvement and emphasizes private ownership?

Command economy

Traditional economy

Free market economy

In a traditional economy, trade is often based on:

Instant digital payments

Barter and customs

Credit markets

A key feature of the mixed economy is government involvement to:

Increase taxes only

Eliminate private firms entirely

Address market failures

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Economic Systems Challenge

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Economic Systems ChallengeOnline version

by Montex

Which economy relies on customs and traditions to decide production?

In a command economy, who decides what to produce?

Which system bases decisions on price signals and profits?

Public goods often fail to be produced by the market because they are:

Merit goods like education are typically:

In a mixed economy, resource allocation is done by:

Which economy minimizes government involvement and emphasizes private ownership?

In a traditional economy, trade is often based on:

A key feature of the mixed economy is government involvement to:

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